Indonesia: State oil and gas company PT Pertamina (Persero) announced on Wednesday that it had booked a net profit of Rp 32.05 trillion (US$3.07 billion) in 2013, up around 11 percent from Rp 25.94 trillion in the previous year.

“The rise in net profits was supported by not only an increase in the company’s oil and gas output but also by positive growth in oil and gas trade businesses and comes in spite of Pertamina suffering Rp 5.7 trillion in losses from non-subsidized 12-kilogram canisters of liquefied petroleum gas [LPG],” Pertamina president director Karen Agustiawan said in a press statement in Jakarta on Wednesday, as quoted by Antara news agency.

Speaking after a general shareholders meeting, Karen said that from the aspect of corporate health, the realized score of Pertamina in 2013 reached 93.46, or a "AA" healthy rating.

She further said Pertamina's realized financial performance had also continued to increase, which was reflected in the company revenue of Rp 743.11 trillion in 2012, up from Rp 665.30 trillion in the previous year.

Amid a downward trend for national oil and gas production, Pertamina’s oil and gas production increased to 465,220 barrels per day in 2013, up from 461,630 barrels per day in the previous year.

The increase was supported by additional oil production of 202,000 barrels per day and gas of 1,528 million standard cubic feet (mmscf).

The increased production drove an increase in oil and gas reserves, which reached 237.31 million barrels per day equal to oil throughout 2013.

Karen said Pertamina’s geothermal power production had also contributed to the increase in both revenue and net profit. In 2013, realized geothermal production had increased by 38.5 percent on last year.

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